Darsh received a Form 1 0 9 9 - K , Payment Card and Third Party Network
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Question:
Darsh received a Form K Payment Card and Third Party Network Transactions, reporting income for services rendered on a onetime basis to a neighbor, but it also included some personal reimbursements from family members for dinners at restaurants. How should this be reported on his tax return?
All income reported on Forms K must be reported on Schedule C Form Subtract the nontaxable portion as an expense in Part II
Include the gross amount from the Form K on Schedule line z using a detail statement and subtract the amount that is not taxable on Schedule line z
Report only the taxable portion on Schedule line z The nontaxable amount should not be reported.
Report the gross amount on Form line Report the nontaxable portion as a miscellaneous itemized deduction on Schedule A Form
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